YOUNGSTOWN, OH — After more than a century in operation, Schwebel Baking Co.’s board of directors made the decision to start closing down operations and initiate the liquidation of the business.
The company cited several challenges as factors causing operational and financial restraints over the years. These include aging equipment and manufacturing facilities, labor contracts and pension obligations and decreased consumer demand for traditional baked goods.
“The Schwebel’s brand has been known for the highest quality of bread, buns and other bakery products for over 100 years, and we are devastated to reach the point where liquidation is the only remaining option,” said Steve Cooper, president and CEO of Schwebel’s.
The baking company, which produces various branded and private label bakery products, will begin winding down operations for its two bakeries, retail stores and distribution centers. While it intends to stay in business through Independence Day, Schwebel’s will close down the rest of its operations throughout the summer.
Cooper stated that the baking company worked with advisors for months to identify a buyer or investor. Despite efforts to secure financing and explore strategic alternatives, Schwebel’s was unable to secure the resources to carry it further.
“The board of directors, management team, shareholders and the Schwebel family are deeply grateful to our employees for their dedication to the Schwebel’s brand,” Cooper continued. “Their hard work, commitment, and pride in producing quality bakery products helped build and sustain this company for generations. We also extend our sincere appreciation to our customers, business partners, suppliers, retirees and the communities we have served throughout our 120-year history. Their loyalty and support have been instrumental in the success and legacy of Schwebel’s.”
